Form 990 for tax year 2022
Filed by WOODWARD HINES EDUCATION FOUNDATION.
Totals
- Total revenue
- $705,522
- Total expenses
- $7,323,373
- Contributions and grants received
- $1,243,412
- Grants paid
- $1,152,644
- Program service revenue
- $594,569
- Investment income
- -$1,132,459
- Other revenue
- $0
- Total assets, end of year
- $202,416,655
- Total liabilities, end of year
- $2,868,959
- Net assets or fund balances, end of year
- $199,547,696
- Program services expenses (Part IX)
- $5,382,327
- Management and general expenses
- $1,941,046
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $5,382,327
Program services were 73.5% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.
Line items
Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.
Revenue
Part VIII, the statement of revenue.
-
1d · Related organizations
$600,000
-
1f · All other contributions, gifts and grants
$643,412
-
2a · Program service revenue: OPERATIONAL FEES
total $583,267 · related or exempt $583,267
-
2b · Program service revenue: COST/EXPENSE REIMBURSEMENT AND PR
total $11,302 · related or exempt $11,302
-
3 · Investment income
total $589,334 · excluded $589,334
-
7a · Gross sales of assets other than inventory
securities $36,527,237
-
7b · Less cost or other basis and sales expenses
securities $38,249,030
-
7c · Gain or loss
securities -$1,721,793
-
7d · Net gain or loss
total -$1,721,793 · excluded -$1,721,793
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $1,152,644 · program services $1,152,644
-
5 · Compensation of officers, directors and key employees
total $779,353 · program services $363,070 · management and general $416,283
-
7 · Other salaries and wages
total $1,492,848 · program services $1,476,064 · management and general $16,784
-
8 · Pension plan contributions
total $82,169 · program services $79,318 · management and general $2,851
-
9 · Other employee benefits
total $180,846 · program services $156,574 · management and general $24,272
-
10 · Payroll taxes
total $152,253 · program services $124,616 · management and general $27,637
-
11b · Fees: legal
total $15,744 · management and general $15,744
-
11c · Fees: accounting
total $96,000 · program services $38,700 · management and general $57,300
-
11f · Fees: investment management
total $759,527 · management and general $759,527
-
11g · Fees: other
total $835,616 · program services $457,296 · management and general $378,320
-
12 · Advertising and promotion
total $56,583 · program services $38,030 · management and general $18,553
-
13 · Office expenses
total $123,111 · program services $117,861 · management and general $5,250
-
14 · Information technology
total $245,147 · program services $192,053 · management and general $53,094
-
16 · Occupancy
total $365,885 · program services $336,483 · management and general $29,402
-
17 · Travel
total $125,305 · program services $123,612 · management and general $1,693
-
19 · Conferences, conventions and meetings
total $19,630 · program services $17,213 · management and general $2,417
-
22 · Depreciation, depletion and amortization
total $65,922 · program services $62,919 · management and general $3,003
-
23 · Insurance
total $175,183 · program services $114,143 · management and general $61,040
-
24a · Other expenses: PROGRAM EXPENSE
total $167,064 · program services $167,064
-
24b · Other expenses: PUBLICATIONS & RESOURCE
total $150,887 · program services $148,562 · management and general $2,325
-
24c · Other expenses: DUES/SUBSCRIPTIONS
total $63,665 · program services $56,366 · management and general $7,299
-
24d · Other expenses: MAINTENANCE
total $32,150 · program services $31,291 · management and general $859
-
24e · All other expenses
total $185,841 · program services $128,448 · management and general $57,393
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $2,540,453 · end of year $3,315,117
-
2 · Savings and temporary cash investments
beginning of year $30,202,822 · end of year $7,736,735
-
3 · Pledges and grants receivable
beginning of year $45,858 · end of year $54,296
-
10a · Land, buildings and equipment: cost or other basis
$771,058
-
10b · Land, buildings and equipment: accumulated depreciation
$613,935
-
10c · Land, buildings and equipment, net
beginning of year $181,466 · end of year $157,123
-
11 · Investments: publicly traded securities
beginning of year $33,307,134 · end of year $25,446,426
-
12 · Investments: other securities
beginning of year $155,047,249 · end of year $162,979,668
-
15 · Other assets
beginning of year $706,308 · end of year $2,727,290
-
17 · Accounts payable and accrued expenses
beginning of year $509,874 · end of year $737,234
-
18 · Grants payable
beginning of year $245,850
-
19 · Deferred revenue
beginning of year $2,877 · end of year $117,598
-
25 · Other liabilities
beginning of year $0 · end of year $2,014,127
-
27 · Net assets without donor restrictions
beginning of year $221,272,689 · end of year $199,547,696
Mission and programs · 2022
Mission
TO HELP MISSISSIPPIANS OBTAIN POSTSECONDARY CREDENTIALS, COLLEGE CERTIFICATES, AND DEGREES THAT LEAD TO MEANINGFUL EMPLOYMENT.
Activities or mission (Part I)
PROVIDING SERVICES TO STUDENTS AND PARENTS INCLUDING COLLEGE ACCESS AND FINANCIAL AID COUNSELING, AND MENTORING STUDENTS IN MISSISSIPPI AND PROVIDING MANAGEMENT SERVICE TO MISSISSIPPI HIGHER EDUCATION ASSISTANCE CORPORATION (A NOT-FOR-PROFIT SECONDARY MARKET CORPORATION).
-
PROVIDING SERVICES TO STUDENTS AND PARENTS INCLUDING SCHOLARSHIPS, COLLEGE ACCESS AND FINANCIAL AID COUNSELING, AND MENTORING STUDENTS IN MISSISSIPPI.
Expenses $3,955,521 · Revenue $11,302
-
GRANTS TO NONPROFIT ORGANIZATIONS PROVIDING SERVICES AND ASSISTANCE TO STUDENTS.
Expenses $1,152,644 · Grants $1,152,644
-
PROVIDING MANAGEMENT SERVICES TO MISSISSIPPI HIGHER EDUCATION ASSISTANCE CORPORATION
Expenses $274,162 · Revenue $583,267
As filed on the 2022 return.
Listed in Part VII
-
Edward CarlisleEDWARD CARLISLE
DIRECTOR
- Total calculated
- $4,250
- From this org
- $4,250
- From related orgs
- $0
- Other
- $0
- Hours/week
- 1 + 1 related
-
Michael Cormack JrMICHAEL CORMACK JR
DIRECTOR
- Total calculated
- $5,175
- From this org
- $5,175
- From related orgs
- $0
- Other
- $0
- Hours/week
- 1 + 1 related
-
Haley FisackerlyHALEY FISACKERLY
DIRECTOR
- Total calculated
- $5,500
- From this org
- $5,500
- From related orgs
- $0
- Other
- $0
- Hours/week
- 1 + 1 related
-
Robert LeardROBERT LEARD
DIRECTOR
- Total calculated
- $5,650
- From this org
- $5,650
- From related orgs
- $0
- Other
- $0
- Hours/week
- 1 + 1 related
-
David MartinDAVID MARTIN
DIRECTOR
- Total calculated
- $6,350
- From this org
- $6,350
- From related orgs
- $0
- Other
- $0
- Hours/week
- 1 + 1 related
-
Debra McGeeDEBRA MCGEE
DIRECTOR
- Total calculated
- $6,100
- From this org
- $6,100
- From related orgs
- $0
- Other
- $0
- Hours/week
- 1 + 1 related
-
Andrew MullinsANDREW MULLINS
DIRECTOR
- Total calculated
- $6,100
- From this org
- $6,100
- From related orgs
- $0
- Other
- $0
- Hours/week
- 1 + 1 related
-
Camille YoungCAMILLE YOUNG
DIRECTOR
- Total calculated
- $5,800
- From this org
- $5,800
- From related orgs
- $0
- Other
- $0
- Hours/week
- 1 + 1 related
-
John F HillJOHN F HILL
BOARD CHAIR
- Total calculated
- $9,450
- From this org
- $9,450
- From related orgs
- $0
- Other
- $0
- Hours/week
- 2 + 1 related
-
Nathan SlaterNATHAN SLATER
BOARD VICE-CHAIR
- Total calculated
- $6,100
- From this org
- $6,100
- From related orgs
- $0
- Other
- $0
- Hours/week
- 1 + 1 related
-
James E McHaleJAMES E MCHALE
PRESIDENT/CEO
- Total calculated
- $287,458
- From this org
- $270,542
- From related orgs
- $0
- Other
- $16,916
- Hours/week
- 40 + 1 related
Schedule J breakdown matched by us
- Base
- $270,542
- Bonus
- $0
- Other
- $0
- Deferred
- $16,377
- Nontaxable benefits
- $1,987
- Filer's total
- $288,906
-
William F AlvisWILLIAM F ALVIS
CFO/TREASURER
- Total calculated
- $218,442
- From this org
- $196,449
- From related orgs
- $0
- Other
- $21,993
- Hours/week
- 40 + 1 related
Schedule J breakdown matched by us
- Base
- $196,449
- Bonus
- $0
- Other
- $0
- Deferred
- $12,264
- Nontaxable benefits
- $11,173
- Filer's total
- $219,886
-
Minette D KetchingsMINETTE D KETCHINGS
DIRECTOR OF OPERATIONS/CON
- Total calculated
- $172,516
- From this org
- $155,702
- From related orgs
- $0
- Other
- $16,814
- Hours/week
- 40 + 1 related
Schedule J breakdown matched by us
- Base
- $155,702
- Bonus
- $0
- Other
- $0
- Deferred
- $9,551
- Nontaxable benefits
- $8,445
- Filer's total
- $173,698
Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.
Schedule J
Answered yes
- 2 · Substantiation required before reimbursing expenses
- 3 · Approval by the board or compensation committee
Answered no
- 4a · Severance or change-of-control payment
- 4b · Supplemental nonqualified retirement plan
- 4c · Equity-based compensation arrangement
- 5a · Pay contingent on this organization's revenues
- 5b · Pay contingent on a related organization's revenues
- 6a · Pay contingent on this organization's net earnings
- 6b · Pay contingent on a related organization's net earnings
- 7 · Other non-fixed payments
- 8 · Paid under the initial-contract exception
Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.
Grants on this return
-
TO SUPPORT THE EFFORTS OF THE STATE TO ACHIEVE ITS POSTSECONDARY ATTAINMENT GOALS OF 55% BY 2030 AND 60% BY 2035.
-
$135,766
TO IMPROVE/INCREASE RETENTION, PERSISTENCE AND COMPLETION OF MISSISSIPPI STUDENTS.
-
$125,455
TO IMPROVE/INCREASE RETENTION, PERSISTENCE AND COMPLETION OF MISSISSIPPI STUDENTS.
-
DELTA STATE UNIVERSITY
$114,070
TO IMPROVE/INCREASE RETENTION, PERSISTENCE AND COMPLETION OF MISSISSIPPI STUDENTS.
-
UNIVERSITY OF SOUTHERN MISSISSIPPI
$105,455
TO IMPROVE/INCREASE RETENTION, PERSISTENCE AND COMPLETION OF MISSISSIPPI STUDENTS.
-
COAHOMA COMMUNITY COLLEGE
$102,123
SUPPORT OF STUDENT SUCCESS
-
MISSISSIPPI UNIVERSITY FOR WOMEN
$92,046
TO IMPROVE/INCREASE RETENTION, PERSISTENCE AND COMPLETION OF MISSISSIPPI STUDENTS.
-
$64,910
TO IMPROVE/INCREASE RETENTION, PERSISTENCE AND COMPLETION OF MISSISSIPPI STUDENTS.
-
MISSISSIPPI PUBLIC SCHOOL CONSORTIUM FOR EDUCATIONAL ACCESS
$61,158
TO EXPAND ACCESS TO RIGOROUS STEM COURSEWORK, WHICH IS NOT CURRENTLYAVAILABLE IN RURAL, LOW-INCOME SCHOOLS, AND RAISE STUDENT ACHIEVEMENTTHROUGHOUT THE STATE OF MISSISSIPPI, PARTICULARLY THE DELTA.
-
$32,083
TO ENHANCE PUBLIC AWARENESS OF MISSISSIPPI-SPECIFIC BARRIERS AND OPPORTUNITIES WITHIN HIGHER EDUCATION
The 10 largest by cash amount. The API serves every itemized grant.
Related organizations on this return
Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.
-
MISSISSIPPI HIGHER EDUCATION ASSISTANCE CORPORATION
501(C)3 · HIGHER EDUCATION ASSISTANCE · MS
Provenance
- Return type
- form_990
- Tax year
- 2022
- Filed
- 15 November 2023
- IRS schema version
- 2022v5.0
- Source object
- 202303199349314495
Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.
The source document this was parsed from is served over the API, which is where bulk and document access live.